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Niyati Shetty

SE Asia Stocks-Philippines falls on risks of endless trade war; Indonesia gains

May 24 2019

* Malaysia down; April CPI +0.2% y/y * Singapore rises; April factory output beats f'cast * Indonesia up 4% this week, biggest since July 2018 By Niyati Shetty May 24 Philippine shares declined on Friday on fears that trade tensions between China and the United States could balloon into a deeper strategic dispute, while Indonesian stocks posted their biggest weekly gain since July 2018. U.S. President Donald Trump said on Thursday Washington's complaints against Huawei Technologies might be resolved within the framework of a U.S.-China trade deal, while calling the Chinese telecom giant "very dangerous". Earlier on Thursday, China hit back with its spokesperson saying "if the United States wants to continue trade talks, they should show sincerity and correct their wrong actions." Philippine shares closed down 0.7%, hurt by real estate stocks, but gained more than 2% this week. Index heavyweights SM Prime Holdings Inc and Ayala Land Inc fell 1.5% and 1.7%, respectively. The market's weakness had more to do with investor sentiment rather than the actual economic impact of the Sino-U.S. trade war, which is too early to tell at this point, said Charles William Ang, deputy head of research at COL Financial. Vietnam shares declined 1.3% on the day and fell 0.7% this week. Real estate stocks were the main drag, with Vinhomes JSC slipping 2.3% and Vingroup JSC falling 1.7%. Malaysian shares ended 0.2% lower and posted a fourth straight weekly fall. Data released early Friday showed that the consumer price index rose 0.2% in April from a year earlier, matching the pace in March, but coming below the 0.4% Reuters poll estimate. Indonesian stocks rose 0.4%, boosted by the communication and financial sectors. They added 4% this week, ending four consecutive weekly declines. PT Telekomunikasi Indonesia and PT Bank Mandiri advanced 2.5% and 1.7%, respectively. Meanwhile, Singapore stocks rose as the country's industrial production unexpectedly grew 0.1% from a year earlier in April, beating forecasts of a 3.5% contraction. Singapore Telecommunications Ltd added 1%, while Hongkong Land Holdings Ltd gained 1.5%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3169.89 3160.72 0.29 Bangkok 1614.12 1609.79 0.27 Manila 7747.09 7804.03 -0.73 Jakarta 6057.353 6032.696 0.41 Kuala Lumpur 1598.32 1601.87 -0.22 Ho Chi Minh 970.03 982.71 -1.29 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3169.89 3068.76 3.30 Bangkok 1614.12 1563.88 3.21 Manila 7747.09 7,466.02 3.76 Jakarta 6057.353 6,194.50 -2.21 Kuala Lumpur 1598.32 1690.58 -5.46 Ho Chi Minh 970.03 892.54 8.68 (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Most decline as Sino-U.S. trade dispute deepens

May 24 2019

* Indonesia set to end 4 weeks of declines * Thai shares dragged by energy stocks as oil plunged overnight * Singapore April factory output due By Niyati Shetty May 24 Most Southeast Asian stock markets declined on Friday as the trade war between the United States and China snowballed into a deeper strategic issue, while Indonesia was on track to snap four weeks of declines. U.S. President Donald Trump on Thursday said his administration's complaints against Huawei Technologies might be resolved within the framework of a Sino-U.S. trade deal, while at the same time calling the Chinese firm "very dangerous". Washington last week placed Huawei on a trade blacklist, which effectively banned U.S. companies from selling goods to the telecom giant. "Asian markets are likely to take another step back today as investors reassess their market positioning amid the potentially protracted US-China trade war," OCBC Bank said in a note to clients. The Manila index fell up to 1.8%, dragged by industrial and real estate stocks, but was poised to gain 1.6% for the week. Conglomerate SM Investments Corp lost 2.4%, while property developer Ayala Land Inc dropped 2.3%. The spillover effect of the ban has also seeped into Asia with retailers in the region, including in Singapore and Philippines, refusing to accept Huawei phones for trade-ins as customers look to offload their devices. Meanwhile, Singapore stocks traded marginally lower ahead of the country's April manufacturing output figures due later in the day. The index was set to fall 1.6% this week, its third straight weekly loss. Economic data from the island, released earlier in the week, showed Singapore's first-quarter annual economic growth contract to the lowest in nearly a decade, as manufacturing contracted in the wake of the bitter Sino-U.S. spat. The Thai bourse slipped 0.7% and was likely to decline for a third consecutive week. Energy stocks dragged the index as oil prices plunged overnight on dampened demand outlook due to the ongoing trade tension. Oil & gas firms PTT Exploration and Production PCL and PTT PCL declined 4.6% and 1.6%, respectively. Indonesian stocks, however, advanced as much as 0.6% and was expected to rise 3.8% for the week as it snaps four straight weeks of losses. Markets were largely positive during the week after incumbent President Joko Widodo was re-elected, despite some violence seen in the capital by protesters angry about the outcome. Malaysian equities rose on Friday as consumer price index in April rose 0.2% from a year earlier, matching the pace in March, but was below a 0.4% estimate in a Reuters poll. Earlier this month, the country's central bank cut its key interest rate for the first time since 2016, amid weak inflation and concerns over slowing economic growth. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0400 GMT Market Current Previous close Pct Move Singapore 3151.58 3160.72 -0.29 Bangkok 1602.07 1609.79 -0.48 Manila 7702.17 7804.03 -1.31 Jakarta 6050.057 6032.696 0.29 Kuala Lumpur 1605.6 1601.87 0.23 Ho Chi Minh 980.95 982.71 -0.18 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3151.58 3068.76 2.70 Bangkok 1602.07 1563.88 2.44 Manila 7702.17 7,466.02 3.16 Jakarta 6050.057 6,194.50 -2.33 Kuala Lumpur 1605.6 1690.58 -5.03 Ho Chi Minh 980.95 892.54 9.91 (Reporting by Niyati Shetty in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Most fall on tech war fears; Indonesia jumps

May 23 2019

* Singapore April core inflation hits 1-yr low * Malaysia April CPI data due on Friday * Indonesia up 1.6%, post-election unrest calms down By Niyati Shetty May 23 Most Southeast Asian stock markets closed lower on Thursday as an intensifying battle over technology added to the simmering trade tensions between the United States and China. Investors worry that the protracted tariff war between the world's top two economies, which has dented global economic growth, could see further escalation with no signs of a resolution in the near term. Reuters reported late on Wednesday that the U.S. administration was considering Huawei-like sanctions on Chinese video surveillance firm Hikvision over the country's treatment of its Uighur Muslim minority. Thai shares were the top losers in Southeast Asia with a drop of 1.1%, weighed down by energy and material stocks. Oil & gas firm PTT PCL lost 1.6%, while PTT Global Chemical PCL fell 4%. Singapore shares declined 0.7% even as April core inflation eased to its lowest level in a year due to falling electricity costs and lower food inflation. Data released earlier in the day showed core inflation rose 1.3% in April from a year earlier, in line with a Reuters poll estimate, and easing from the prior month's 1.4% rise. Lender DBS Group Holdings Ltd and conglomerate Jardine Matheson Holdings Ltd weighed on the Singapore stock index, slipping 0.9% and 1.6%, respectively. Malaysian shares were marginally down ahead of inflation data due on Friday. Consumer prices likely increased 0.4% in April from a year earlier, at a slightly faster pace than the previous month's 0.2% year-on-year rise, according to a Reuters poll. Meanwhile, Indonesian shares gained 1.6% with calm returning to the streets of Jakarta after post-election protests. Unrest ensued in the world's third-largest democracy after the election commission confirmed earlier this week that incumbent President Joko Widodo's had beaten ex-general Prabowo Subianto in the April 17 poll. The market was relieved that the post-election situation calmed down and was confident that stability would return, said Anugerah Zamzami Nasr, an equity research analyst with PT Phillip Sekuritas Indonesia. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3160.72 3183.14 -0.70 Bangkok 1609.79 1626.91 -1.05 Manila 7804.03 7815.07 -0.14 Jakarta 6032.696 5939.636 1.57 Kuala Lumpur 1601.87 1603.74 -0.12 Ho Chi Minh 982.71 983.78 -0.11 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3160.72 3068.76 3.00 Bangkok 1609.79 1563.88 2.94 Manila 7804.03 7,466.02 4.53 Jakarta 6032.696 6,194.50 -2.61 Kuala Lumpur 1601.87 1690.58 -5.25 Ho Chi Minh 982.71 892.54 10.10 (Reporting by Niyati Shetty in Bengaluru, Additional Reporting by Shreya Mariam Job; Editing by Subhranshu Sahu)

SE Asia Stocks-Most decline as tech war amplifies Sino-U.S. tension

May 23 2019

* Singapore hits over 4-mth low; April inflation data due * Indonesia up 1.5%; post-election protesters disperse By Niyati Shetty May 23 Most Southeast Asian stock markets declined on Thursday, amid continued Sino-U.S. trade tensions, while an escalating technology cold war between the nations piled on. Reuters on Wednesday reported that the U.S. administration is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision over the country's treatment of its Uighur Muslim minority. The bitter tariff dispute between the world's largest economies intensified last week after the United States put Huawei Technologies on a trade blacklist, effectively banning U.S. firms from doing business with the Chinese telecom giant. Adding to unlikelihood of a speedy closure to the tariff spat, U.S. Treasury Secretary Steven Mnuchin on Wednesday said it would be at least a month before the U.S. would enact proposed tariffs on $300 billion in Chinese imports. The Philippine bourse fell up to 0.7% as financial and industrial stocks weighed on the main board. Conglomerate JG Summit Holdings Inc lost 3.3%, and Metropolitan Bank and Trust Co fell 2.6%. While risk sentiment had improved in the region during the first few months of the year after Sino-U.S. tensions seemed to be diminishing, the deadlock in trade talks since the start of May has caused disarray in the markets. "Asian markets may see some modest erosion today, while attempting to speculate on the endgame for U.S.-China trade tensions," OCBC Bank said in a note. Asian economies continued to feel the repercussions of slowing global growth, which was reflected in the dismal growth data released by Singapore and Thailand earlier this week. Thai equities slipped 0.5%, hurt by energy and materials sectors. PTT Global Chemical PCL and PTT Exploration and Production PCL declined 2.8% and 1.2%, respectively. The Singapore index lost as much as 1%, hitting a more than 4-month low, ahead of inflation data due later in the day. A Reuters poll showed the central bank's core inflation measure likely rose 1.3% in April from a year earlier, down slightly from the 1.4% rise in the prior month. Malaysian stocks fell up to 0.9%, a day after markets returned from a holiday. Petronas Chemical Group Bhd dropped 5.9%. The Indonesian index was the sole gainer, rising 1.5%, as calm returned to the streets of central Jakarta on Thursday after a second night of clashes between security forces and protesters angry over the outcome of last month's election. Earlier this week, the election commission had confirmed the victory of incumbent President Joko Widodo over challenger, ex-general Prabowo Subianto. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0407 GMT Market Current Previous close Pct Move Singapore 3169.62 3183.14 -0.42 Bangkok 1622.73 1626.91 -0.26 Manila 7772.7 7815.07 -0.54 Jakarta 6027.918 5939.636 1.49 Kuala Lumpur 1602.35 1603.74 -0.09 Ho Chi Minh 980.36 983.78 -0.35 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3169.62 3068.76 3.29 Bangkok 1622.73 1563.88 3.76 Manila 7772.7 7,466.02 4.11 Jakarta 6027.918 6,194.50 -2.69 Kuala Lumpur 1602.35 1690.58 -5.22 Ho Chi Minh 980.36 892.54 9.84 (Reporting by Niyati Shetty in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Philippines rises on Huawei reprieve; Indonesia down

May 22 2019

* Philippines hits 2-week closing high * Singapore inflation data due on Thursday By Niyati Shetty May 22 Philippine stocks closed higher on Wednesday after the United States temporarily eased restrictions on China's Huawei Technologies, while Indonesia slipped as protests around recently-announced presidential election results gripped the capital. The Manila index climbed 1.2%, extending gains for a fourth straight session and hitting a 2-week closing high. Financials and industrial sectors boosted the Philippine index, with Ayala Corp gaining 6.5%, and JG Summit Holdings Inc rising 4.3%. Washington on Monday granted Huawei Technologies Co Ltd a licence to purchase U.S. goods until August 19, a move intended to give telecom operators that rely on the Chinese firm time to make other arrangements. Friction between the world's largest economies escalated last week after the U.S. Commerce Department blacklisted Huawei, prompting several U.S. firms to suspend business with the Chinese telecom giant. Meanwhile, news agency Xinhua reported http://www.xinhuanet.com/english/2019-05/21/c_138077868.htm on Tuesday that the Philippine police found no evidence that Huawei was spying for the Chinese government as they conducted an investigation into reports that the firm was involved in espionage. On the other hand, the Indonesia index declined 0.2% after protests over the outcome of the presidential election erupted in the capital on Wednesday. The demonstrations come a day after the election commission confirmed that incumbent President Joko Widodo had beaten his challenger, ex-general Prabowo Subianto, in the April 17 poll. Investors are wary as the political unrest could cause significant problems for Widodo to implement reforms in the nation. Thai equities advanced 1% as the trade-dependent country reported customs-cleared exports of 2.57% in April from a year earlier, and in line with a Reuters poll forecast. The country's trade deficit for April came in at $1.46 billion, compared with a forecast of a $490 million deficit, and March's $2 billion surplus. Data released on Tuesday showed the Thai economy grew at its slowest pace in over four years. With the country facing growing economic concerns, DBS Bank, in a note to clients, said, "Pressure will build on the Bank of Thailand to reverse the token rate hike undertaken in late-2018." Singapore stocks ended flat ahead of the island's inflation data due on Thursday. A Reuters poll expects the country's core inflation in April to rise 1.3% from a year earlier, down slightly from the 1.4% rise in the prior month. The Malaysian markets were closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3183.14 3183.26 0.00 Bangkok 1626.91 1610.49 1.02 Manila 7815.07 7721.56 1.21 Jakarta 5939.636 5951.372 -0.20 Ho Chi Minh 983.78 986.29 -0.25 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3183.14 3068.76 3.73 Bangkok 1626.91 1563.88 4.03 Manila 7815.07 7,466.02 4.68 Jakarta 5939.636 6,194.50 -4.11 Ho Chi Minh 983.78 892.54 10.22 (Reporting by Niyati Shetty in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Most rise after U.S. eases curbs on Huawei

May 22 2019

* Philippines rises for 4th straight session * Thai shares up; April exports in line with forecast * Malaysia closed for holiday By Niyati Shetty May 22 Most Southeast Asian stock markets rose on Wednesday, tracking Wall Street peers, as the United States temporarily eased restrictions on China's Huawei Technologies Co Ltd , but persisting trade war concerns capped gains. The U.S. Commerce Department, late on Monday, granted Huawei a 90-day license to buy U.S. goods in order to minimize disruption to customers. "Asian markets may capitalise on the slight improvement in risk appetite overnight and attempt to reclaim some lost ground today," OCBC Bank said in a note to its clients. However, The New York Times reported on Tuesday that the United States is considering limits to Chinese video surveillance firm Hikvision's ability to buy U.S. technology, showing that tensions still persist. Tensions between the world's largest economies intensified last week when U.S. Commerce Department added Huawei to a trade blacklist, prompting several U.S. companies to suspend business with the world's largest telecom equipment maker. Singapore equities rose up to 0.5%, supported by industrial stocks. Index heavyweights Jardine Matheson Holdings Ltd and Jardine Strategic Holdings Ltd climbed 3.4% and 2.7%, respectively. The bourse declined 0.7% in the previous session after first-quarter economic growth hit a decade low as manufacturing contracted in the wake of the Sino-U.S. trade war. OCBC in a note on Thursday said, "the recent targeting of Huawei by the US administration is also contributing to greater uncertainties and potential ripple effects for the entire regional manufacturing value-chain." Philippine stocks added as much as 0.8% and extended gains for a fourth straight session, underpinned by financial and industrial sectors. Ayala Corp gained 5.5% and International Container Terminal Service Inc rose 2.7%. The Thai index advanced as much as 0.8% on Wednesday as the country's customs cleared exports fell in line with forecasts. Official data showed exports in April contracted 2.57% from a year earlier, while imports fell 0.72% from a year ago versus a Reuters estimate of a 4.6% decline. Meanwhile, the Jakarta index declined on Wednesday as opposition leader Prabowo Subianto refused to concede defeat and considered a legal challenge to the presidential election result. On Tuesday, the incumbent President Joko Widodo comfortably won a second term. Investors are also concerned whether Widodo's government can carry forward reforms amidst the politically charged environment. Financial markets in Malaysia are closed due to a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0407 GMT Change on the day Market Current Previous close Pct Move Singapore 3190.36 3183.26 0.22 Bangkok 1619.6 1610.49 0.57 Manila 7771.36 7721.56 0.64 Jakarta 5940.097 5951.372 -0.19 Ho Chi Minh 990.75 986.29 0.45 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3190.36 3068.76 3.96 Bangkok 1619.6 1563.88 3.56 Manila 7771.36 7,466.02 4.09 Jakarta 5940.097 6,194.50 -4.11 Ho Chi Minh 990.75 892.54 11.00 (Reporting by Niyati Shetty; editing by Uttaresh.V)

SE Asia Stocks-Indonesia climbs on Widodo election win; Singapore falls on growth forecast cut

May 21 2019

* Singapore hits lowest closing level since March 25 * Thai customs-cleared trade data due Wednesday * Vietnam snaps 7 straight sessions of gains By Niyati Shetty May 21 Indonesian equities ended higher on Tuesday as investors cheered incumbent President Joko Widodo's election win, while Singapore stocks hit a 2-month closing low on grim growth outlook. The Jakarta index extended gains for a second session, rising 0.8%, boosted by financial and material sectors. Bank Central Asia Tbk PT and PT Indah Kiat Pulp & Paper Tbk rose 1.5% and 7.7%, respectively. Official election results of the world's third-largest democracy confirmed unofficial counts that had predicted Widodo's victory over rival Prabowo Subianto. The opposition, however, has refused to concede defeat after claiming widespread cheating. The index of the country's 45 most-liquid stocks gained 0.9%. Meanwhile, Singapore stocks declined 0.7% as the country downgraded its 2019 growth forecast after data released earlier in the day showed economic growth in the first quarter slipped to the lowest in nearly a decade. Policymakers cut annual growth outlook to 1.5%-2.5% from 1.5%-3.5% previously. DBS Bank in a note said that while they expect to see gradual improvement going forward, they note that "the downside risk has heightened and the new set of figures has also shed more light on the underlying weakness of the economy." Adding to the region's growth concerns, data from Thailand showed the country's economy grew at its slowest pace in more than four years in the first three months of the year, owing to a drop in exports and public investment. Thai stocks ended slightly higher, supported by gains in financial and communication stocks. Siam Commercial Bank PCL advanced 2.1%, while Advanced Info Service PCL rose 1.6%. Investors also await Thailand's customs-cleared trade data due on Wednesday. According to a Reuters poll, annual exports in April may have contracted 2.5% after decreasing 4.88% in the previous month. Elsewhere, Philippine shares climbed 0.8%, extending gains for a third session, buoyed by industrials and communication services stocks. Conglomerate SM Investments Corp rose 2% and telecom firm PLDT Inc added 2.6%. The Vietnam index snapped seven straight sessions of gains to end marginally lower on Tuesday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3183.26 3205.46 -0.69 Bangkok 1610.49 1608.11 0.15 Manila 7721.56 7660.14 0.80 Jakarta 5951.372 5907.121 0.75 Kuala Lumpur 1603.74 1605.36 -0.10 Ho Chi Minh 986.29 987.13 -0.09 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3183.26 3068.76 3.73 Bangkok 1610.49 1563.88 2.98 Manila 7721.56 7,466.02 3.42 Jakarta 5951.372 6,194.50 -3.92 Kuala Lumpur 1603.74 1690.58 -5.14 Ho Chi Minh 986.29 892.54 10.50 (Reporting by Niyati Shetty in Bengaluru; Editing by Shreejay Sinha)

SE Asia Stocks-Widodo win boosts Indonesia; Singapore falls on growth worries

May 21 2019

* Indonesia rises up to 1.5% * Singapore Q1 GDP hits decade low, cuts 2019 growth outlook * Thai Q1 GDP +2.8% y/y, slowest in over 4 years By Niyati Shetty May 21 Indonesian shares extended gains on Tuesday as official counts, released earlier than scheduled, confirmed the re-election of incumbent President Joko Widodo, while the Singapore index declined after the country cut its 2019 growth outlook. Indonesian equities rose as much as 1.5% after the election commission confirmed unofficial counts, giving President Widodo, popularly known as Jokowi, a comfortable win over ex-general Prabowo Subianto. The early results could, however, trigger a legal challenge and potential street protests after the opposition claimed widespread cheating. Taye Shim, Head of Research at Mirae Asset Sekuritas said a fundamental question that investors are asking is whether President Jokowi can deliver reforms during his next five years. "President Jokowi has a proven track record of delivering reforms and at the same time managing politics." Financials and material stocks supported the Jakarta index, with Bank Central Asia Tbk PT adding 2.1%, and PT Indocement Tunggal Prakarsa Tbk gaining 6.2%. Singapore stocks declined up to 0.5% after the island cut its full year growth forecast on Tuesday as official data showed annual economic growth in the first quarter slipped to the lowest in nearly a decade. Gross domestic product expanded 1.2% year-on-year in the first three months of 2019, below the 1.5% forecast by a Reuters poll, as manufacturing contracted due to the protracted Sino-U.S. tariff war. Conglomerate Jardine Matheson Holdings Ltd lost as much as 1.9% and lender DBS Group Holdings Ltd slipped 0.9%. Adding to the region's growth worries, Thailand data also showed the trade-reliant economy grew at its slowest annual pace in more than four years in the first quarter, mainly due to softer exports. However, Mizuho Bank said in a note that it "sees a gradual pick-up on the back of incoming stimulus and the start of a series of mega infrastructure projects." The Thai bourse gained 0.5% despite the disappointing data, with oil & gas firm PTT PCL rising 0.5%, and Airports of Thailand PCL adding 0.4%. Meanwhile, other markets in the region rose as investors took a breather from last week's sell-off. "Emerging market has been hurt a lot compared to other markets and I would suspect that this is only a technical rebound," said Shim. "At the end of the day this is a very fragile recovery." The Philippine index climbed up to 1%, while Malaysian equities added 0.6%. Vietnam stocks gained for an eighth straight session, buoyed by financial and real estate sectors. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0404 GMT Market Current Previous close Pct Move Singapore 3193.33 3205.46 -0.38 Bangkok 1611.01 1608.11 0.18 Manila 7728.26 7660.14 0.89 Jakarta 5980.237 5907.121 1.24 Kuala Lumpur 1610.66 1605.36 0.33 Ho Chi Minh 990.74 987.13 0.37 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3193.33 3068.76 4.06 Bangkok 1611.01 1563.88 3.01 Manila 7728.26 7,466.02 3.51 Jakarta 5980.237 6,194.50 -3.46 Kuala Lumpur 1610.66 1690.58 -4.73 Ho Chi Minh 990.74 892.54 11.00 (Reporting by Niyati Shetty in Bengaluru; editing by Uttaresh.V)

SE Asia Stocks-Indonesia snaps 5 days of falls, Philippines extends gains

May 20 2019

* Indonesia election results due Wednesday * Vietnam shares hit over 1-mth closing high By Niyati Shetty May 20 Indonesian shares rose on Monday as investors bought beaten-down stocks after five sessions of falls, while Philippine shares closed higher for a second straight day. Broader Asia managed to reverse some of last week's heavy losses as investors cheered apparent wins by Conservative incumbent parties in elections in Australia and India. But Chinese equities extended losses as trade tensions with the United States dragged on, with Beijing last week suggesting that a resumption of talks to end the dispute was unlikely to happen. Meanwhile, U.S. President Donald Trump said his tariffs on Chinese goods were causing companies to move production out of China to Vietnam and other countries in Asia. The key Jakarta stock index closed 1.4% higher after declining more than 6% in the previous five sessions. Financials led the recovery with Bank Central Asia Tbk PT rising 3.9%. Among other gainers, PT Telekomunikasi Indonesia (Persero) Tbk advanced 2.6% and PT Astra International Tbk added 3%. Investors now await the General Election Commission's announcement of presidential election results on Wednesday, which is expected to confirm unofficial counts that showed incumbent President Joko Widodo winning a second term. Philippine shares advanced 1%, with index heavyweights Aboitiz Equity Ventures Inc and Ayala Land Inc climbing 4.6% and 1.6%, respectively. Vietnam shares rose 1.1% to their highest close since April 9, supported by consumer staples and financials. Saigon Beer Alcohol Beverage Corp added 2.3%, while Joint Stock Commercial Bank for Foreign Trade of Viet Nam gained 1.5%. Financial markets in Singapore, Thailand and Malaysia were closed for holidays. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Manila 7660.14 7583.82 1.01 Jakarta 5907.121 5826.868 1.38 Ho Chi Minh 987.13 976.48 1.09 Change so far in 2019 Market Current End 2018 Pct Move Manila 7660.14 7,466.02 2.60 Jakarta 5907.121 6,194.50 -4.64 Ho Chi Minh 987.13 892.54 10.60 (Reporting by Niyati Shetty in Bengaluru; Editing by Subhranshu Sahu)

SE Asia Stocks-Indonesia rises on Jokowi's likely poll victory; Philippines falls

May 20 2019

* Indonesia on track to end 5 sessions of losses * Philippine index falls up to 0.7% * Singapore, Malaysia & Thailand markets closed By Niyati Shetty May 20 Indonesian shares rose on Monday, ahead of the outcome of the country's presidential election, while Philippines declined as Sino-U.S. trade tensions kept investors at bay. Results of the hotly-contested presidential election in Indonesia is expected to confirm, on Wednesday, unofficial counts by private pollsters last month that showed incumbent President Joko Widodo (Jokowi) winning a second term over ex-general Prabowo Subianto. Jokowi's re-election will be the "most market-friendly outcome, or one less thing for investors to be worried about amid rising external uncertainty," ING said in a note on Friday. The Jakarta index gained as much as 0.8% and was poised to snap five straight sessions of declines. Financials and communications sectors provided support. PT Bank Central Asia Tbk and PT Telekomunikasi Indonesia (Persero) Tbk each advanced 2.3%. The Philippine bourse lost up to 0.7%, weighed by real estate and industrial sectors. The index was on track to decline for a sixth session in seven. Property developer SM Prime Holdings Inc fell up to 2.2%, while conglomerate SM Investments Corp slipped 1.2%. Risk appetite took a hit in the region due to escalating tensions between the world's largest economies, which intensified after the Trump administration added Huawei Technologies Co Ltd to a trade blacklist last week. In response to the restrictions, Alphabet Inc's Google suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly-available via open source licensing, a source familiar with the matter told Reuters. Vietnam stocks were largely flat, with gains in utilities sector offsetting losses in real estate stocks. Financial markets in Singapore, Thailand and Malaysia were closed for holidays. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0327 GMT Market Current Previous close Pct Move Manila 7540.75 7583.82 -0.57 Jakarta 5869.608 5826.868 0.73 Ho Chi Minh 976.31 976.48 -0.02 Change so far in 2019 Market Current End 2018 Pct Move Manila 7540.75 7,466.02 1.00 Jakarta 5869.608 6,194.50 -5.24 Ho Chi Minh 976.31 892.54 9.39 (Reporting by Niyati Shetty in Bengaluru; editing by Uttaresh.V)

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